Tax Tip – 14 States with No Income Tax on Pensions (Acronyms “WWF TANS” & “I TAN MPH”)

Tax Tips provided by Don Fitch, CPA

The 7 States with No State Income Tax in 2020 include (Remember the Acronym “WWF TANS”):

Washington –> No State Income Tax or Tax on Retirement Income

Wyoming –> No State Income Tax or Tax on Retirement Income

Florida –> No State Income Tax or Tax on Retirement Income

Texas –> No State Income Tax or Tax on Retirement Income

Alaska –> No State Income Tax or Tax on Retirement Income

Nevada –> No State Income Tax or Tax on Retirement Income

South Dakota –> No State Income Tax or Tax on Retirement Income

Tax Tip - 14 States with No Income Tax (WWF TANS) on Pensions (I TAN MPH)
7 States with NO Income Tax

PLUS: The 7 States with No State Income Taxes on Pensions include (Remember the Acronym “I TAN MPH”):

Illinois –> Does not tax distributions from 401(k) plans, IRAs or pensions.

Tennessee –> Taxes unearned income less each year by 1% until the tax is eliminated at the start of 2021. Does not tax distributions from 401(k) plans, IRAs or pensions.

Alabama –> Taxes distributions from 401(k) plans and IRAs but not pensions.

New Hampshire –> Taxes dividends and interest but does not tax distributions from 401(k) plans, IRAs or pensions.

Mississippi –> Does not tax distributions from 401(k) plans, IRAs or pensions.

Pennsylvania –> Does not tax distributions from 401(k) plans, IRAs or pensions.

Hawaii –> Taxes distributions from 401(k) plans and IRAs but not pensions.

Tax Tip - 14 States with No Income Tax (WWF TANS) on Pensions (I TAN MPH)
14 States with No Tax on Pensions

Please contact the office of Don Fitch Accountancy at (760)567-3110 or Email Don.Fitch@CPA.com if you have any questions or would like additional information.

DON FITCH, CPA
74478 Highway 111 #3
Palm Desert, CA 92260

Toll Free: (877)CPA-Help or (877)272-4357
Cell: (760)567-3110
Fax: (760)836-0968

Email: DonFitchCPA@paylesstax.com
Website: http://www.paylesstax.com

Allow us to Help you complete your Tax Returns from 1913 to present (100+ Years) and for any of the 50 States.
This blog post is intended to serve solely as an aid in continuing tax education for Don Fitch Accountancy blog and email members. Due to the constantly changing nature of the subject of the materials, this product is not appropriate to serve as the sole resource for any federal tax, accounting opinion, tax return position, and must be supplemented for such purposes with other current authoritative materials. The information in this blog post has been carefully compiled from sources believed to be reliable, but its accuracy is not guaranteed. In addition, Don Fitch Accountancy is not engaged in rendering legal or other professional services and will not be held liable for any actions or suits based on this blog post, email, or comments made during the above presentation. If legal advice or other expert assistance is required, seek the services of a competent professional.

(Updated 02/27/2021 15:59)

Published by Don Fitch, CPA

Offers in Compromise, Wage Levy Releases, Installment Agreements, IRS Audits, and much more IRS assistance. Also, allow us to Help you complete your Tax Returns from 1913 to present (100+ Years) and for any of the 50 States.

Leave a Reply

%d bloggers like this: